Draft budget discussed at State Council of Tatarstan

State-Building and Local Self-Government Committee of Tatarstan State Council has started discussing the 2014 and 2015-2016 budget.

Midkhat Shagiakhmetov, Tatarstan Minister of Economy, reported that Russia’s economical development rate will yield to the average worldwide rate for the first time since 2000 due to the national economy’s dependency on raw materials export and production cost increase, caused by rising raw materials prices combined with falling demand.

Tatarstan economical growth rate also slowed down by more than two times since 2012: industry, construction and agriculture developed slower in 2013. The year’s GDP is forecasted to amount to 1,520 billion rubles; growth rate is not going to exceed 2.3%.

Alla Anfimova, Deputy Finance Minister of Tatarstan, stated that in nine months of 2013, the consolidated budget received 142.7 billion rubles, 117.2 of them – from tax and non-tax sources. The income was forecasted to exceed 128.3 billion rubles, expenses – 131.5 billion rubles, creating a deficit of over 3.2 billion rubles.

In 2014, the consolidated budget’s income is forecasted to amount to 170.7 billion rubles, expenses – 176.1 billion rubles, with 5.4 billion rubles’ deficit. The tax and non-tax revenue will equal to 158.4 billion rubles in 2014, to 166.6 - in 2015 and to 175.1 billion rubles in 2016.

Tatarstan will receive 12.3 billion rubles from federal budget within inter-budget transfers in 2014, 8.3 and 8.0 billion rubles in 2014 and 2016, respectively.

Deputy Minister pointed out that the budget deficit grows every year: it is forecasted to amount to 3.2 billion rubles this year, to 5.4 billion rubles in 2014 and to 12.4 billion rubles in 2016.

According to Alla Anfimova, the draft budget is socially focused. The deputies recommended the State Council to consider and approve it in the first reading.